Diageo (LON:DGE) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Diageo shares moved above their 200-day moving average of GBX 1,562.38, reaching GBX 1,710.50 before closing at GBX 1,671.50 on volume of 5.5 million shares.
• Analyst sentiment is broadly positive, with four Buy ratings and three Holds. The stock has a “Moderate Buy” consensus rating and an average price target of GBX 2,029.
• Diageo has a £37.17 billion market capitalization and a P/E ratio of 15.45; insiders purchased 1,267 shares worth about $2 million over the past three months, though insider ownership remains low at 0.17%.

Diageo plc (LON:DGE - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,562.38 and traded as high as GBX 1,710.50. Diageo shares last traded at GBX 1,671.50, with a volume of 5,518,919 shares.

Analyst Upgrades and Downgrades

DGE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a GBX 1,700 target price on shares of Diageo in a report on Friday, August 7th. Royal Bank Of Canada reissued an "outperform" rating and set a GBX 2,000 price target on shares of Diageo in a research report on Monday, August 24th. Berenberg Bank reissued a "buy" rating and issued a GBX 2,223 price objective on shares of Diageo in a research note on Friday, August 7th. Jefferies Financial Group lifted their price objective on shares of Diageo from GBX 2,000 to GBX 2,200 and gave the company a "buy" rating in a report on Monday, August 10th. Finally, UBS Group reiterated a "neutral" rating and set a GBX 1,600 target price on shares of Diageo in a report on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Diageo currently has an average rating of "Moderate Buy" and an average price target of GBX 2,029.

Diageo Price Performance

The company has a 50 day moving average of GBX 1,629.11 and a 200 day moving average of GBX 1,562.38. The company has a debt-to-equity ratio of 203.12, a quick ratio of 0.62 and a current ratio of 1.60. The stock has a market capitalization of £37.17 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.75 and a beta of 0.31.

Insider Activity at Diageo

In other news, insider John Alexander Manzoni bought 441 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The shares were purchased at an average cost of GBX 1,488 per share, for a total transaction of £6,562.08. Insiders bought 1,267 shares of company stock worth $1,999,464 over the last three months. Insiders own 0.17% of the company's stock.

Diageo Company Profile

Diageo is a global leader in premium drinks, across spirits and beer, a business built on the principles and foundations laid by the giants of the industry. With over 200 brands sold in 180 countries, our portfolio has remarkable breadth. From centuries-old names to exciting new entrants, and global giants to local legends, we're building the very best brands out there, and with over 30,000 talented people based in over 135 countries, we're a truly global company. With such diversity, we're able to truly represent our broad consumer base and think differently about the future. To maintain our position as leaders in the alcoholic beverage market, we always invest in the future and are mindful of the impact we have.

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